$TAH.NZ announces yet another bolt on acquisition to their ARC business.
The increase of ARC as a percentage of the total business is great news, the unit economics and organic growth potential of this segment are immensely better than the GP.
$TAH.NZ continues with the stream of positive news.
A week ago they confirmed the addition of two more residential aged care under their services.
Yesterday the company announced the proposed acquisition of a small ARC competitor.
80% is to be acquired for $1.1M total.
To whom can take advantage:
Found a Co. in Poland called Energoaparatura S.A $ENP.WA that has signed 2 contracts for 1.5x its current market cap. Insiders have been buying nonstop for the past 2 months.
I cannot understand properly and liquidity is low.
Not investment advice.
$TAH.NZ with a great start for the third consecutive year.
Rev up 11 % YoY
EBIT up 18 % YoY
EPS up 30% YoY
Dividend up 22 % YoY
ROE 64 %
ROCE 43%
The company trades at around
17x Eps TTM
12x FCF TTM
with a 4 % dividend yield.
$TAH.NZ with a great start for the third consecutive year.
Rev up 11 % YoY
EBIT up 18 % YoY
EPS up 30% YoY
Dividend up 22 % YoY
ROE 64 %
ROCE 43%
The company trades at around
17x Eps TTM
12x FCF TTM
with a 4 % dividend yield.
Great way to reflect on forecasts and be held accountable. Shared Research compares the actual earnings vs forecast for Shin Maint $6086.T over the past 10 years.
The company has beaten its forecast every year except on 20-21 (Covid).
Shin Maint Holdings ($6086.T) starts FY 2026 with another great quarter:
Rev 17 % YoY
EBIT 30% YoY
NI 32% YoY
Acquired new customers in nursing care, retail and drug stores. AC Maint continues to be a strong driver of revenues.
Trades at (LTM):
10x EV/FCF
9x EV/EBIT
14x EV/NI
2025 YTD Portfolio Update
Performance: 27.91 %
Holdings
$TAH.NZ 32%
$6086.T 21%
$MHA.L 17%
$AALLON.HE 16%
$CSSG.L 13%
Cash 1%
Only movement in Q2 was the purchase of $MHA.L
Full Update with Individual position details in 🔗 in bio.
$MHA.L starts its M&A journey as a public Co.
Acquires BTSEE which is part of the BTI network in SE Europe.
BTSEE is #5 accounting firm in Cyprus after Big 4.
Paid 10x PBT 6x EBITDA
Dilutes 5.5% with same price, conditions and clawback for partners the IPO had.
Hurdle Rate has published a new research piece on the LSE listed MHA Plc, a new IPO on the AIM segment of the LSE.
Please find the research at our website below:
hurdlerate.com.au
Q1 2025 Portfolio Update
Performance 8.30%
Holdings
$TAH.NZ 31%
$CSSG.L 19%
$AALLON.HE 19%
$6086.T 17%
Cash 14 %
3 out of my 4 holdings are written up on the bio.
My thoughts on $CSSG.L future strategy as well as $AALLON.HE 1 year update will be coming up this month.
$TAH.NZ Third Age Health is a health care provider for ARC facilities with an asset light business model, great capital allocators and business tailwinds trading at 9x TTM FCF.
7 years CAGR :
Rev: 22%
GP: 20%
EBIT: 21%
NI: 44%
FCF: 31%
ROIC: 40%
Full write up in link in bio
$AALLON.HE has reported great FY24 Numbers with an outstanding 2nd half. Margins keep improving as they scale.
Announced FY25 commitment to a leaner organization.
FCF per share has increased 21% from 0.71 to 0.86. Trades at 11x 2024 FCF.
EBIT to FCF Conversion 108%
CSSG.L has acquired Meridian Security System for £150K, it has also acquired freehold property for £275K.
Revenue for Meridian was 836K on 2023 with 6 employees.
This can be looked at using the 19% EBITDA and 14% EBIT margin Croma has per segment before central costs.
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